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DuPont Offers Optimistic Guidance for 2010 (DD)

By Dividend.com Staff
November 3rd, 2009

dupont-offers-optimistic-guidance-for-2010-dd

Chemicals maker DuPont (DD) on Tuesday provided a very optimistic fiscal 2010 earnings forecast that easily bested that of analysts.

The Wilmington, Delaware-based company said it expects 2010 earnings of $2.10 to $2.40 per share, while analysts currently expect $2.01, on average. The company also predicted 20% compound annual earnings growth from 2009 to 2012.

DuPont shares rose 26 cents, or +0.8%, in morning trading Tuesday.

The Bottom Line
We removed DuPont from our “recommended” list last Sept. 26, at a price of $42.61. The company currently has a dividend yield of 5.08%, based on last night’s closing price of $32.27. The stock has technical support in the $27-$30 price area. If the shares can firm up, we see overhead resistance around the $37-$40 price levels. We would remain on the sidelines for now.

DuPont (DD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.